Wesbanco Bank Inc. decreased its position in Colgate-Palmolive Company (NYSE:CL) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,859 shares of the company’s stock after selling 849 shares during the quarter. Wesbanco Bank Inc.’s holdings in Colgate-Palmolive were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in CL. Waldron LP bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $238,000. Benjamin F. Edwards & Company Inc. increased its stake in Colgate-Palmolive by 5.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 12,742 shares of the company’s stock worth $933,000 after acquiring an additional 698 shares during the last quarter. Swiss National Bank increased its stake in Colgate-Palmolive by 22.2% in the 1st quarter. Swiss National Bank now owns 3,667,072 shares of the company’s stock worth $268,393,000 after acquiring an additional 666,400 shares during the last quarter. World Asset Management Inc increased its stake in Colgate-Palmolive by 10.4% in the 1st quarter. World Asset Management Inc now owns 96,563 shares of the company’s stock worth $7,067,000 after acquiring an additional 9,081 shares during the last quarter. Finally, Morse Asset Management Inc bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $732,000. 73.45% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Vice Chairman Franck J. Moison sold 35,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.52, for a total value of $2,503,200.00. Following the completion of the transaction, the insider now directly owns 201,411 shares in the company, valued at $14,404,914.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Patricia Verduin sold 3,833 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.45, for a total value of $273,867.85. Following the completion of the transaction, the insider now owns 53,173 shares of the company’s stock, valued at $3,799,210.85. The disclosure for this sale can be found here. Insiders sold 52,833 shares of company stock valued at $3,776,108 over the last ninety days. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Colgate-Palmolive had a return on equity of 2,782.56% and a net margin of 15.10%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be paid a $0.40 dividend. The ex-dividend date is Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. Colgate-Palmolive’s payout ratio is presently 61.78%.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on Colgate-Palmolive from $84.00 to $83.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Group LLC cut their target price on Colgate-Palmolive from $79.00 to $76.00 and set a “hold” rating on the stock in a research report on Monday. Stifel Nicolaus set a $73.00 target price on Colgate-Palmolive and gave the company a “hold” rating in a research report on Sunday. Finally, KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $76.73.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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